It may come as a surprise that awards and prizes are taxable. The prize is filed under income tax if a taxpayer receives an award from a competition. This is because the market value...
Posted by Pat Raskob on 11/30/2022
It is no surprise that paying someone to watch your kids or clean your property makes you an employer, and you have to do the employer donation. Those hired to do these jobs are considered...
Posted by Rosovich & Associates, Inc. on 11/30/2022
Advanced healthcare directive planning can make difficult healthcare decisions less stressful.Expressing end-of-life wishes can be challenging, especially in the face of a serious...
Posted by Taxes Made EZ Inc on 11/28/2022
You may have considered a custodial account if you want more flexibility regarding how your child's education funds are allocated. That way, the money doesn't have to be used...
Posted by Rosovich & Associates, Inc. on 11/28/2022
Taxpayers who have accrued or paid foreign income taxes in a U.S. possession or foreign country can generally deduct those taxes from their U.S. tax on foreign source income. The foreign...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/17/2022
Tax preparers prepare more than 85 million tax returns, as observed by the Internal Revenue Service (IRS). However, those who boldly go DIY on their taxes should remember to keep a...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/10/2022
A tax deduction is a legal method of reducing your taxes without being penalized. There is a wide margin between a deduction and credit, and the value is not the same, making it look...
Posted by Taxes Made EZ Inc on 11/10/2022
The S & P are the talks happening in the stock market. These are indexes for a group of securities. They represent the trends in a particular market, economy segment, or industry....
Posted by Pat Raskob on 11/10/2022
Caregivers do forfeit their jobs and employee benefits to perform a selfless act of caring for loved ones. However, there are benefits attached to the selfless act that is not known...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/30/2022